Braemar Property Value Report: May-June 2021 (Heritage Series)
Another late July day is coming to an end and I find myself doing what I love most, keeping up with the Braemar real estate market. That’s what top Braemar real estate agents like myself do… they eat, sleep and breathe real estate. So at this moment, I bring you another Braemar Property Value Report. This one focuses on the Heritage Series home sales in our neighborhood for May and June. Note: Heritage homes are mid-sized single family homes, built by Brookfield Homes. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly. The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.
There were seven Heritage home sales between the beginning of May and end of June. They all happened to sell in May. Details of the seven sales are listed below:
At first glance, you can see that every one of the seven sold prices start with a six. That’s quite an achievement in and of itself as you will see by the updated six and twelve month data points in the next graphic.
Starting with the sold price column it is evident that the six month average and median sold prices have leapt up substantially compared to their respective twelve month values. Braemar Heritage homes have been gaining significant equity in this market with little inventory and frenzied buyer demand.
The seller subsidy column is where we learn how much closing cost assistance Braemar Heritage home buyers were able to negotiate from their sellers. In the six month average and six month median, even the twelve month median value, seller subsidy is zero. The twelve month average has a small value as a result of nine of forty sales in the past twelve months that gave seller subsidy. Of those nine sales, six sellers gave significant amounts of closing cost help, three gave amounts that would lead an experienced agent to think they were repair credits. No seller has given seller subsidy since Ocober 2020.
Days on market reflects exactly what I have been experiencing as a listing and buyers agent. The highest days on market is the twelve month average at one week. In fact, looking at the most recent sales, only one of the seven was double digits.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to give nothing in closing cost help.
The next Braemar Property Value Report will be out in September. Until then, if you have been considering the sale of your Braemar home, get in touch with me. Listing preparation and professional marketing are key to creating the buyer enthusiasm that gets top of the market, no matter what marketing conditions you are facing. Believe it or not, even seller’s in a seller’s market can leave money on the table. Don’t let that be you. Since 2005, No One Knows Braemar Better!